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BYD will eventually need three assembly plants, one battery factory in Europe, special advisor says
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Alfredo Altavilla, a special advisor to Chinese automaker BYD, stated on September 16 in Turin, Italy, that the company will ultimately need to build three complete vehicle assembly plants and one battery plant in Europe to support its growth plans and comply with EU regulations. BYD is currently starting production at its first European factory in Hungary and expects to decide on the location of its second manufacturing base by the end of this year. Altavilla noted that the company prefers to acquire and renovate existing facilities rather than build new factories from scratch, with Spain and France among its priority locations. He emphasized that this expansion will not happen overnight but is necessary to achieve the company's volume targets while adhering to European regulations.
Source report
TURIN, Italy, Sept. 16 (Reuters) – A special advisor to Chinese automaker BYD (002594.SZ) stated that the company will ultimately require three complete vehicle assembly plants and one battery plant in Europe to support its growth ambitions and meet EU regulatory requirements.
BYD is currently commencing production at its first European factory in Hungary and expects to decide on the location of its second manufacturing base by the end of this year, according to Alfredo Altavilla, who spoke during a presentation in Turin on Wednesday.
Altavilla noted that the company prefers to acquire and renovate existing facilities rather than build new factories from scratch, with Spain and France among its priority locations.
"In the long run, we will need three assembly plants and one battery plant," Altavilla said.
"Obviously, this won't happen overnight. But it is clear that to achieve the volume targets we have in mind while complying with European regulations, this is what we need," he added.
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BYD Plans Three Assembly Plants and One Battery Factory in Europe, Adviser Says